Petronas to build refinery in Indonesia
Tuesday, March 21 2006 - 01:20 AM WIB
Malaysia?s state owned oil and gas company Petronas plans to expand its downstream business in Indonesia by building a refinery. The firm is even seeking opportunities in Indonesia?s petrochemical industry, Kompas reported in its Tuesday edition
?We have discussed and continued talking about the plan ,? Petronas? president and CEO Tan Sri Dato Mohd Hassan Marican was quoted by the paper as saying in Kuala Lumpur.
He refused to provide details, but he said investment climate in Indonesia had much improved. Investors need transparence, political stability and regulations that are conducive for business and Indonesia already has those things, according to Marican.
Petronas has entered Indonesia?s downstream business by opening a fuel station. The firm plans to build 200 fuel stations in Java until 2011. (*)